Peregrine Pharmaceuticals June 15th Short Interest Update

Peregrine Pharmaceuticals (NASDAQ:PPHM), A drop of 231,100 shares or 2.4% was seen in the short interest of Peregrine Pharmaceuticals Inc.. Even as the interest dropped from 9,651,614 shares on May 31,2016 to 9,420,514 shares on June 15,2016, the days to cover came in at 3. The updated interest stood at 4% of the stocks floats. The stock has seen an average daily volume of 2,731,445 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Peregrine Pharmaceuticals (NASDAQ:PPHM): The stock opened at $0.38 on Friday but the bulls could not build on the opening and the stock topped out at $0.40 for the day. The stock traded down to $0.38 during the day, due to lack of any buying support eventually closed down at $0.39 with a loss of -3.66% for the day. The stock had closed at $0.40 on the previous day. The total traded volume was 19,165,412 shares.

The company shares have dropped -70.00% from its 1 Year high price. On Jul 17, 2015, the shares registered one year high at $1.38 and the one year low was seen on May 9, 2016. The 50-Day Moving Average price is $0.41 and the 200 Day Moving Average price is recorded at $0.66.

Peregrine Pharmaceuticals (NASDAQ:PPHM) has tumbled 7.6% during the past week and has dropped 5.89% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 6.07%. Peregrine Pharmaceuticals (NASDAQ:PPHM) has underperformed the index by 3.04% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of monoclonal antibodies in clinical trials for the treatment and diagnosis of cancer. The Company has two platforms and is pursuing multiple clinical programs in cancer with its lead immunotherapy candidate bavituximab, its phosphatidylserine (PS) targeting agent, PGN65, and its brain cancer therapy Cotara. Bavituximab is the Companys therapeutic PS-targeting antibody. PGN650 is its PS-targeting imaging agent. The Company is evaluating the bavituximab investigator-sponsored trials (IST) in front-line, HER2-negative metastatic breast cancer, liver cancer, rectal adenocarcinoma and advanced melanoma. It is also evaluating PGN650 imaging in multiple solid tumor types. The Company`s Impavido biomanufacturing subsidiary Avid Bioservices, Inc., provides commercial and clinical manufacturing services for the Company and third-party clients.

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